Online Business Courses By MindEdge
Business Essentials: Introduction to Business Statistics
This course will introduce you to the importance of statistics in the business world. Statistics is the science of collecting, organizing and analyzing data in order to make more effective decisions. Understanding statistical techniques can help any manager responsible for marketing, management, accounting, sales, or other business functions.
This course will cover ways to organize, describe and present data; it also introduces the concept of probability. You will also explore computational methods for presenting data, called descriptive statistics. Further, you'll be exposed to financial (ratio) analysis and its objectives and limitations. By the end of this course, you should be comfortable with financial reports and their meaning.
After completing this course, you’ll be able to:
- Differentiate between descriptive and inferential statistics
- Distinguish between the 4 different scales of measurement: nominal, ordinal, interval, and ratio
- Identify the appropriate graphical or tabular method for presenting your data
- Create frequency distributions
- Create meaningful presentations and graphs (including: frequency polygons, bar graphs, pie charts, line graphs, and histograms) Calculate probability and explain its practical application
- Compute the mode, median, and mean of a dataset
- Calculate the variance and standard deviation of a dataset
- Interpret sampling with and without replacement
- Explain the significance of the area under a curve
Estimated time to complete: 3-5 hours
Cost: $75
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